Unit 1: Ethics and culture in business - Key terms 1

Business ethics is a set of moral ________ that govern behavior in a business context.

principles

The ________ of an organization refers to the collective beliefs, values, and norms that shape its practices.

corporate culture

A ________ culture promotes innovation and risk-taking within a company.

adhoracy

________ is the quality of being right, honest, or acceptable in business conduct.

Business ethics

________ is a moral principle or standard of good behavior that guides actions.

Morality

The ________ of a company outlines its long-term goals and the desired future position.

mission

An ________ organizational culture is one where ethical behavior is encouraged and practiced.

ethical

________ responsibility refers to the obligations a company has to act in ways that benefit society.

social

The process of ensuring compliance with laws, principles, and company policies is known as ________.

organisational ethic

________ is the respect and fair treatment expected towards all stakeholders in business.

dignity

A ________ is a false idea or belief, often based on a misunderstanding.

misconception

________ refers to the ethical principles that govern decisions and behavior at a company or organization.

code of ethics

A ________ culture values competition and a focus on achieving strong individual performance.

market

An organization's ________ culture reflects its ethical practices and values.

corporate

________ ethics involves understanding and applying ethical principles to business situations.

business

The ________ of business activity can have significant social and environmental impacts.

consequences/ sustainability

________ handling refers to the compassionate treatment of animals used in research.

humane

________ practices in business can lead to loss of reputation and legal issues.

Unethical

A ________ is a set of rules or guidelines that dictate expected behavior within an organization.

code of conduct

Business ethics can help a company maintain a good ________ and build trust with customers.

reputation